Washington, Dec 1 (AP) American factories grew at a slower pace last month and there are concerns that surging coronavirus infections will endanger an economic recovery.

The Institute of Supply Management, an association of purchasing managers, reported Tuesday that its manufacturing index dipped to 57.5 in November from 59.3 in October.

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Any reading above 50 signals that manufacturing is expanding. The ISM index plunged in the spring but has since bounced back and now shows factories on a six-month winning streak.

New orders and production grew more slowly last month. Hiring actually dropped, reversing a gain in October. New export orders grew faster. Sixteen of 18 industries surveyed reported growth last month, led by apparel and mineral manufacturers.

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The US economy collapsed from April through June and has since been recovering.

But a sharp increase in infections is raising fears that the recovery will lose momentum as state and local governments issue lockdown orders and Americans stay home on their own to avoid infection. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)